While Volvo hasn't said whether or not the vehicle will be a sedan or SUV, it has said it will use a smaller platform, similar to the 40-Series, for the car.

Volvo's 40.2 concept car.
Volvo

Volvo previously said that its first electric car would be built on a larger platform, like the one used for the S90. However, the company has shifted away from that plan.

Volvo said in a press statement on Wednesday that its new electric car will be based on its Compact Modular Architecture (CMA), which is the platform the carmaker is using for its smaller 40-Series vehicles.

However, it is not clear whether Volvo will actually use the CMA platform for its first electric car, or if it will introduce a new platform that is even smaller.

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Volvo also plans to launch another larger electric car by 2019.

Volvo

Volvo will also build an all-electric vehicle on its Scalable Product Architecture (SPA) platform, which is the same platform the company used for its second-generation XC90 SUV and its 90-Series sedan.